Cover image via Kwong Wah Yit PohPrime Minister Datuk Seri Najib Razak has affirmed that members of the Employees Provident Fund (EPF) will retain their right to withdraw from their retirement savings at the age of 55
Image via Nazir Sufari / The Malaysian Insider
The Prime Minister's statement was made in response to the people's concerns over EPF's proposal to increase the full withdrawal age limit from 55 to 60 in its 2014 annual report two weeks ago
Image via The Malaysian Insider
Before making a decision, however, EPF said that it would initiate a public consultation exercise to gauge the public's responses. Hence, on 20 April, EPF presented four new initiatives in improving its current scheme:
EPF contributors are then given two weeks – from 21 April to 5 May – to provide their feedback and opinions on the proposed initiatives via an online survey on the EPF website
Response to the survey has been encouraging, with more than 50,000 members having recorded their feedback since the public consultation exercise was launched two days ago
However, the Congress of Unions of Employees in the Public and Civil Services (Cuepacs) are of the opinion that the online survey is irrelevant as it is obvious that many are not in favour of the proposal
Image via Free Malaysia Today
